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This volume contains an analysis of developments in energy policies and markets in the member countries of the International Energy Agency.

It includes:

- Summaries of the in-depth reviews of Austria, Hungary, Ireland, Italy, Japan and Switzerland conducted from October 2002 to June 2003. The full reviews are published separately.

- Short reviews of policy developments in Australia, Belgium, the Czech Republic, New Zealand, Norway, Spain and Turkey.

- Energy balances and key statistical data for all member countries.

- Key energy statistics since 1973.

The overview section examines trends in energy markets, including an analysis of recent trends in energy demand, supply and the fuel prices. It highlights key issues related to energy security, which remains a major government preoccupation. It examines member countries’ progress in energy market reform, their actions to meet the Kyoto greenhouse gas emissions targets, their policies on energy efficiency and energy R&D. It contains a short study of developments in non-member countries, including China, India, South-East Asia, Latin America, Russia, Central and South-eastern Europe and Saudi Arabia.